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Kendall Law Group Investigates L-1 Identity Solutions Inc. Acquisition for Shareholders

^{Published on 2010-09-20 08:20:21 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating L-1Identity Solutions Inc.(NYSE: ID) for shareholders in connection with the proposed acquisition by Safran. The national securities firma™s investigation seeks to determine whether L-1and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. L-1shareholders that would like additional information about their rights are encouraged to contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On September 20, 2010, the companies announced that they had entered into a definitive merger agreement under which L-1would be acquired by Safran in a transaction valued at approximately $1.1 billion. Under the terms of the agreement, L-1stockholders will receive $12.00 in cash for each share of L-1/ID common stock owned. The offer price represents a 24% premium to Fridaya™s $9.70 closing price. The firm believes that the transaction may be undervaluing the company.

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.